China Building Bank Corp.’s first-half internet revenue fell 11% in contrast with the identical interval a yr earlier as impairment losses surged amid the Covid-19 pandemic.
Internet revenue was 137.63 billion yuan ($20.05 billion), the Chinese language lender mentioned late Sunday.
The bank’s working revenue rose 4.5% to CNY359.92 billion, helped by increased internet curiosity revenue, which grew 6.4% to CNY266.49 billion.
The state-owned bank’s non-performing loan ratio was 1.49% as of June 30, up from 1.42% on the finish of 2019.
China Building Bank mentioned it elevated provisions for impairment losses on loans and advances to boost its capability to face up to dangers amid the pandemic. Impairment losses rose 49% on yr to CNY111.57 billion.
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